CPI-M slams FM's report card on economy

New Delhi: Castigating the Narendra Modi government for the report card on the country's economy during its 100 days in office, CPI (M) on Saturday said its budget was literally a "photocopy" of that of UPA-II government, which dealt with issues the BJP had itself opposed then.

"The claims by Finance Minister Arun Jaitley do not convey any significant progress in the economy since the Modi government assumed office,” senior CPI(M) leader Sitaram Yechury said.

"All that he has claimed, like reduction in the rate of inflation, hike in GDP growth rate or greater flow of investments, are all issues noted in the Economic Survey's balance sheet of the last year of the UPA-II government," he added.

His reaction was sought on announcements made by Jaitley regarding the economic parameters in 100 days of the Modi government.

"Ironically, Jaitley had presented this Economic Survey to Parliament and his budget was literally a photocopy of the interim budget presented by (then Finance Minister) P Chidambaram before the general elections," Yechury said, adding there was "nothing to add" to the earlier budget by the Modi government.

The "only contribution" the BJP-led government has made was to increase the avenues for profit-maximisation by foreign capital, the CPI(M) leader said.

"Ironically again, they are proposing to legislate in this field the measures they had themselves opposed under the Manmohan Singh government," he said, adding that the vast majority of the people "are facing greater burdens today."

"Earlier, the people were forced to listen to 'achche din aanewale hain' (good days are coming). And they were made to believe it. Now instead, the people on the streets are humming 'koi lauta de mere beete huye din (someone return my good old days)' after 100 days of this government," he said.